Fideuram Intesa Sanpaolo Private Banking S.P.A. Acquires New Position in Flowco Holdings Inc. $FLOC

Fideuram Intesa Sanpaolo Private Banking S.P.A. bought a new position in shares of Flowco Holdings Inc. (NYSE:FLOC) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 53,359 shares of the company’s stock, valued at approximately $1,099,000. Fideuram Intesa Sanpaolo Private Banking S.P.A. owned about 0.06% of Flowco at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Zions Bancorporation National Association UT acquired a new stake in Flowco in the fourth quarter valued at about $29,000. Parallel Advisors LLC raised its stake in Flowco by 8,929.4% during the fourth quarter. Parallel Advisors LLC now owns 1,535 shares of the company’s stock worth $29,000 after acquiring an additional 1,518 shares in the last quarter. Aster Capital Management DIFC Ltd bought a new position in shares of Flowco in the fourth quarter worth about $29,000. Tower Research Capital LLC TRC boosted its stake in shares of Flowco by 95.6% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,643 shares of the company’s stock valued at $47,000 after purchasing an additional 1,292 shares in the last quarter. Finally, Strs Ohio bought a new stake in shares of Flowco during the 1st quarter valued at approximately $92,000.

Flowco Price Performance

Shares of FLOC opened at $20.79 on Friday. Flowco Holdings Inc. has a 1 year low of $14.03 and a 1 year high of $28.26. The company has a debt-to-equity ratio of 1.00, a current ratio of 3.09 and a quick ratio of 1.48. The company has a market capitalization of $1.88 billion, a price-to-earnings ratio of 17.77 and a beta of 0.89. The business has a 50-day moving average of $24.13 and a 200-day moving average of $22.24.

Flowco Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Friday, May 15th were given a dividend of $0.09 per share. The ex-dividend date of this dividend was Friday, May 15th. This represents a $0.36 dividend on an annualized basis and a yield of 1.7%. This is a boost from Flowco’s previous quarterly dividend of $0.08. Flowco’s payout ratio is currently 30.77%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on FLOC shares. Wall Street Zen downgraded shares of Flowco from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 2nd. Citigroup started coverage on Flowco in a report on Thursday, May 28th. They set a “neutral” rating and a $31.00 price target on the stock. Jefferies Financial Group reiterated a “buy” rating and issued a $33.00 price objective on shares of Flowco in a report on Thursday, May 7th. Zacks Research downgraded shares of Flowco from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. Finally, Weiss Ratings raised shares of Flowco from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, May 29th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $29.40.

About Flowco

We are a leading provider of production optimization, artificial lift and methane abatement solutions for the oil and natural gas industry. Our products and services include a full range of equipment and technology solutions that enable our customers to efficiently and cost-effectively maximize the profitability and economic lifespan of the production phase of their operations. Our principal products and services are organized into two business segments: (i) Production Solutions; and (ii) Natural Gas Technologies.